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Elite Choice Rewards®

Product Details

Contract Specifications

Ages and Amounts:
  • Maximum issue age: 85
  • Minimum initial premium: $10,000 (nonqualified); $5,000 (qualified)
  • Maximum annuitization age: 95
Index Options:1
  • S&P 500® Index
  • Multi-Strategy Index
Crediting Methods:
  • Biennial Point-to-Point
  • Annual Monthly Averaging
  • Biennial Monthly Sum
  • 2.5% Bonus (for premium under $100,000)
  • 5.0% Bonus (for premium of $100,000 or greater)
Fixed Account Option:
  • When you open an Elite Choice Rewards contract, 100% of your premium begins to earn interest in the fixed account. On the first Friday after the contract is issued, that premium, including any interest earned, and the premium bonus are transferred into the Indexed Option(s) of your choice.2
Withdrawal Charges3 (state variations apply):
  • 10 years — 8.75%, 7.50%, 7.25%, 6.50%, 5.50%, 4.50%, 3.75%, 2.75%, 1.75%, 0.75%
Recapture Charges:4
  • 5 years — (2.5% Bonus) 2.00%, 2.00%, 1.50%, 1.00%, 0.50%
  • 5 years — (5.0% Bonus) 4.50%, 4.50%, 3.00%, 2.50%, 1.00%

Standard Benefits

  • Guaranteed Minimum Accumulation Value: This value provides guaranteed growth regardless of performance. It earns 1-3% growth (declared at issue) on 100% of your premium. This guarantees that the value at the end of the Indexed Option Period will never be less than your initial premium (assuming no withdrawals are taken).
  • Extended Care Benefit:5 You or your joint owner will become eligible for this benefit beginning in the second contract year. If you or your joint owner is confined to a nursing home or hospital for 90 consecutive days by medical necessity, up to 20% of the Accumulation Value may be taken annually free of withdrawal charges.
  • Terminal Illness Benefit:6 You or your joint owner will become eligible for this benefit beginning in the second contract year. If you or your joint owner is diagnosed with a terminal illness expected to result in death within 12 months, you can access without charge the greater of the Accumulation Value or the Guaranteed Minimum Accumulation Value. The Terminal Illness Benefit is subject to a maximum withdrawal of $250,000.
  • Guaranteed Death Benefit: In the event of your death, your beneficiaries will receive the greater of the Accumulation Value or the Guaranteed Minimum Accumulation Value. They may elect a lump sum payment or a guaranteed life income. If you prefer, you may specify your beneficiaries’ payout option in advance. (Preselected Death Benefit is available for nonqualified and IRA contracts only.)
  • Required Minimum Distributions (RMDs): After age 70½, the owner-required RMD for this contract may be taken from your qualified contract free of withdrawal charges, even if the amount exceeds the 10% free withdrawal provision.7
  • Free 10% Withdrawals: Each year, you may withdraw up to 10% of your Accumulation Value free of withdrawal charges. If a single withdrawal exceeds 10% of the Accumulation Value, the entire amount will be subject to withdrawal charges. The free withdrawal is not cumulative from year to year.

1The Multi-Strategy Index is a proprietary index of stock performance created by Jackson to add the opportunity for greater diversity. The underlying stocks are selected according to five different strategies, which are reapplied every year in January based on their predetermined selection criteria. Not all index options are available in all states.

2If the New York Stock Exchange is closed on any Friday, the balance will be transferred on the next business day.

3Withdrawal charges are based on years since issue and will be waived after the expiration of the selected term.

4Recapture charges are based on years since issue but are not applied on withdrawals of less than 10% under the free withdrawal provision, or on withdrawals under the Extended Care or Terminal Illness Benefits. Recapture charges are waived upon death.

5State variations may apply. If the requested withdrawal plus all prior withdrawals within a contract year exceeds 20% of the Accumulation Value, the entire amount will be treated as a partial withdrawal.

6State variations may apply. Diagnosis must be made by a U.S.-licensed physician. The Company reserves the right to order a second exam, at its own cost, by a physician of its own choice. All contract values will be reduced proportionately based on the amount withdrawn. A payment under the Terminal Illness Benefit is payable only once, regardless of the subsequent occurrence of the same or a different condition.

7The RMD withdrawal value is based on the Accumulation Value or Guaranteed Minimum Accumulation Value, whichever is greater. If a withdrawal taken before the end of your chosen Indexed Option Period exceeds the greater of the RMD requirement or the 10% free withdrawal benefit, the full amount withdrawn will be subject to withdrawal charges.

Understanding Annuities
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Examine the potential benefits of fixed index annuities (FIAs) as part of a balanced, long-term portfolio plan.

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Fixed index annuities are not available in New York.

Fixed index annuities are also known as fixed annuities with index-linked interest.

Elite Choice Rewards Single Premium Deferred Fixed Annuity with Index-Linked Interest and Bonus Provision (contract form number ICC13 FIA450, FIA450) is issued by Jackson National Life Insurance Company® (Home Office: Lansing, Michigan) and distributed by Jackson National Life Distributors LLC. Not available in all states and state variations may apply. This product is a fixed annuity that does not participate in any stock or equity investments and has limitations and restrictions, including withdrawal and recapture charges (not applicable in all states). During the Indexed Option Period, the annuity's cash withdrawal value may be less than the initial premium. For costs and complete details, contact your representative or the Company.

The design of these annuity contracts emphasizes the protection of credited interest rather than the maximization of interest rate crediting. Jackson issues other annuities with similar features, benefits, limitations and charges. Discuss them with your representative or contact Jackson for more information. Fixed index annuities may not be suitable for everyone.

The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"), and has been licensed for use by Jackson National Life Insurance Company ("Jackson"). Standard & Poor's®, S&P® and S&P 500® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed for use by S&P DJI and sublicensed for certain purposes by Jackson. Select Annual Reset is not sponsored, endorsed, sold or promoted by S&P DJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

All indexes are unmanaged and not available for direct investment. The payment of dividends is not reflected in the index return.

Guarantees are backed by the claims-paying ability of Jackson National Life Insurance Company.

Jackson® is the marketing name for Jackson National Life Insurance Company® and Jackson National Life Insurance Company of New York®.

• Not FDIC/NCUA insured • Not bank/CU guaranteed • May lose value •
Not a deposit • Not insured by any federal agency

CMI16072PD 07/16

© 2019. All rights reserved
Jackson National Life Insurance Company
1 Corporate Way
Lansing, MI 48951